The amount of Chicagoland’s underwater homes, meaning more is owed on the
property than it is actually worth, increased from 33.7 percent in
December to 34.2 percent in March, according to a report from
CoreLogic released Wednesday. This bucks the nationwide trend.
While 21.7 percent of America’s homes were underwater at the end of 2012, this year’s first quarter saw a decrease, with the figure falling to close to 20 percent. Nationwide, some 850,000 homes came out of the red, amounting to 1.7 million homeowners with positive equity on their property. Meanwhile, in the Chicagoland area, roughly 8,000 homes moved into negative equity during the first three months of 2013.